Boeing Co is in talks with banks about borrowing $10 billion or more amid rising...
) is in talks with banks about borrowing $10 billion or more amid rising costs for the U.S. planemaker after two crashes involving its 737 MAX jetliner, a source told Reuters on Monday.
CNBC first reported the news on Monday, citing sources that Boeing has so far secured at least $6 billion from banks and is talking to other lenders for more contributions. Boeing confirmed on Monday that it temporary halted production of the 737 MAX in Washington State in recent days. The company had said in December it would halt production at some point this month.
Analysts estimate that Boeing has been losing around $1 billion a month because of the grounding. It reported an almost $3 billion negative free cash flow in the third quarter.
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